International treasury issues: Morocco issues a €2 billion bond
02/04/2025
The Kingdom of Morocco issued, March 26, 2025 a bond on the international financial market for 2 billion euros in two tranches. The 1st tranche, with a 4-year maturity and an amount of 900 million euros, was issued at a spread of 155 bp and a price of 99.775%, offering a yield of 3.937% and paying a coupon of 3.875%. The 2nd , a 10-year tranche, for an amount of 1 billion 100 million euros, was issued at a spread of 215 bp and a price of 99.276%, giving a yield of 4.843% and a coupon of 4.750%.
The issue was a great success among international investors, with an order book in excess of 7 billion euros, confirming thus the international investors’ confidence in Morocco.
This issue helped to diversify Morocco's sources of financing and set new benchmarks on Morocco's credit curve in the euro compartment. Placed with quality investors, the issue was well received, as was its broad geographical distribution.
The issue follows a 55-investor roadshow in Paris and London by Mrs. Nadia FETTAH, Minister of Economy and Finance, accompanied by a delegation from the Treasury and External Finance Department.
This Roadshow was an opportunity to highlight the political stability of our country, the resilience of its economy and the reforms carried out under the enlightened leadership of His Majesty King Mohammed VI, may God assist him.
This issue was carried out in 144A/RegS format to enable broad participation by investors worldwide.
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